FOR IMMEDIATE RELEASE:
July 23, 2013
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AARP President Appears Before Senate Subcommittee on Antitrust, Competition Policy and Consumer Rights
Rob Romasco Testifies on Prescription Drug Pay-for-Delay Deals and Their Costs to Consumers
WASHINGTON, D.C. – Today, Rob Romasco, AARP President and member of AARP’s all-volunteer board, testified before the Senate Committee on the Judiciary Subcommittee on Antitrust, Competition Policy and Consumer rights addressing prescription drug pay-for-delay deals and how they limit competition and hurt consumers.
“Older Americans use prescription drugs more than any other segment of the U.S. population,” said Romasco. “These drugs play a critical role in their health and financial security.”
Even though use of less expensive generic drugs has increased over recent years, saving money for consumers, taxpayers and businesses, AARP believes substantial additional savings can be found by eliminating pay-for-delay agreements between brand name and generic prescription drug manufacturers.
In its testimony, AARP urged Congress to address pay-for-delay agreements, highlighting in particular two bi-partisan pieces of legislation that would address these harmful settlements: the Preserve Access to Affordable Generics Act (S. 214) and the Fair and Immediate Release of Generics or FAIR GENERxICS Act (S. 504).
The Federal Trade Commission has concluded that pay-for-delay agreements delay public access to generic drugs, costing consumers and taxpayers approximately $3.5 billion per year. Putting an end to these agreements will not only save consumers, taxpayers and businesses money, but also help prevent patients, including older Americans, from foregoing needed medications because of the high cost of brand-name drugs. It’s estimated that the annual excess health care costs due to medication non-adherence in the United States may be as much as $290 billion.
Recognizing that these pay-for-delay agreements are harmful to consumers and taxpayers, AARP includes eliminating pay-for-delay in its responsible solutions to improve care and save money in Medicare and throughout the healthcare system.
“We look forward to working with members of Congress from both sides of the aisle to address pay-for-delay agreements,” Romasco concluded. “We seek to ensure that each and every American has access to affordable prescription drugs.”
For a copy of Mr. Romasco’s testimony please contact Allyson Funk at email@example.com.
For more on AARP’s Medicare Solutions, visit EarnedASay.org.
AARP is a nonprofit, nonpartisan organization, with a membership of more than 37 million, that helps people turn their goals and dreams into real possibilities, strengthens communities and fights for the issues that matter most to families such as healthcare, employment and income security, retirement planning, affordable utilities and protection from financial abuse. We advocate for individuals in the marketplace by selecting products and services of high quality and value to carry the AARP name as well as help our members obtain discounts on a wide range of products, travel, and services. A trusted source for lifestyle tips, news and educational information, AARP produces AARP The Magazine, the world's largest circulation magazine; AARP Bulletin; www.aarp.org; AARP TV & Radio; AARP Books; and AARP en Español, a bilingual news source. AARP does not endorse candidates for public office or make contributions to political campaigns or candidates. The AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. AARP has staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Learn more at www.aarp.org.
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